Posted on 03/06/2018 8:30:09 AM PST by C19fan
The money fairy says...
PFFFFT!!
23 Trillion$... 230 Trillion$... What's the difference?
"Unsustainable??" Whazzat??
I'm a liberal! I have a license to steal!
Principle... principle... NOT principal
Never ever ever ever... did I mention never?
Vote democratic!
a financial analyst I respect said, always take care of family, never send to a home, it is cheaper to pay for care to come in, build on, than to pay for care.
Watch out for the tax bite. I’ve heard that when you sell a house and buy a cheaper one, you get screwed on taxes.
Can you elaborate on that? That can be interpreted several different ways.
By the IRS?
Inheritance laws?
By state laws?
Some other way?
By the time Obamacare is through with me, I will have about $50,000 less in my IRA then I would have had if it never existed.
Going from a $900 Monthly Health Insurance Premium to a $2,100 Monthly Health Insurance Premium has taken its toll on our Finances.
That doesn’t include that yearly $2,500 Check that Obama promised me.
There is a bright side, believe it or not.
If the US goes broke, the first to lose their ill-gotten pensions will be grossly overcompensated elected criminals and federal employees who somehow retire at several times their salaries while employed.
Absolutely deserved.
IRS, from what I gathered. Like, the difference is taxed as income or something like that.
If you sell a house that has been your primary residence for at least 2 out of the last 5 years prior to the sale, the first $250,000 of profit on the sale is tax exempt if you are single, and $500,000 is exempt if you are married filing jointly. The purchase price of your next residential property is irrelevant to this exemption
You may be thinking of a 1031 exchange where one can sell an investment, commercial or business property and purchase a similar investment property of equal or greater value within 180 days in order to avoid capital gains tax on the sale.
In those situations; if you sell an investment property and purchase another investment property of lesser value, you will be taxed on the difference at the capital gains rate.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.